March 4, 2025 – Vancouver, British Columbia – Blender Bites Limited (the “Company”, “Blender Bites” or “Blender”), (CSE: BITE, FWB: JL4, WKN: A3DMEJ) announces that, further to its February 14, 2025 press release regarding its delay in filing its financial statements for the period ended October 31, 2024, and the related management’s discussion and analysis, and CEO and CFO certifications (collectively, the “Required Filings”), which were required to be filed on or before February 28, 2025, the Company has been granted a management cease trade order (“MCTO”) under the provisions of National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) in connection with the late filing of the Required Filings. The MCTO application was granted on March 3, 2025, and as a result, the Company’s common shares may not be traded by the Company’s Chief Executive Officer or its interim-Chief Financial Officer. The Company’s common shares may still be traded by other shareholders.
The expected delay in filing the Required Filings is due to the Company’s former auditor, GreenGrowth CPAs, resigning as the auditors of the Company on their own initiative on July 10, 2024 and the Company’s new auditor not being appointed until October 31, 2024, as well as the resignation of the Company’s former CFO on February 13, 2025.
The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in 10 of NP 12-203 and issue biweekly default status reports for so long as it remains in default of the requirement to file the Required Filings. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information to release to the public. The Company has made the foregoing representations in accordance with the requirements of applicable securities laws.
ABOUT BLENDER BITES
Blender Bites is a multi-award-winning Canadian company involved in the development and marketing of a line of premium frozen beverage products with a focus on functionality. Blender Bites was founded in 2017 and quickly became a leader in the “easy smoothie” category in North America. With a focus on better-for-you ingredients and convenience, the Company is proud to be pre-portioned without the use of any inner plastic packaging. Blender Bites products are certified organic, non-GMO, gluten free, dairy free and soy free and contain functional ingredients such as whole food vitamins, collagen, and probiotics. Blender Bites 1-Step Smoothies and 1-Step Frappes are distributed across Canada and the US, and are currently sold in over 7000 stores, including Walmart, Albertsons, HEB, Whole Foods and Publix.
On behalf of the Board of Directors,
Blender Bites Limited
Chelsie Hodge, Chief Executive Officer
Email – chelsie@blenderbites.com
Telephone – 236-521-0626
For further information, contact Blender IR Team at:
Email – investors@blenderbites.com
Telephone – 1-888-997-2055
Media Contact – teamblenderbites@jonesworks.com
CAUTIONARY DISCLAIMER STATEMENT
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation, including the timing of filing of the Required Filings by the Company. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. All of these assumptions have been derived from information currently available to the Company including information obtained by the Company from third-party sources. Readers are cautioned that actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.